it such an immense number of its most vigorous men, who are taken from industrial pursuits and every kind of labor, as well as the enormous interest on the sums expended on military preparations without any return. The inevitable result of this expenditure on war and preparations for war is a continually growing national debt. The greater number of loans raised by the governments of Europe were with a view to war.

Their total sum amounts to four hundred millions sterling, and these debts are increasing every year.”

The same Professor Komarovsky says in another place:

“We live in troubled times. Everywhere we hear complaints of the depression of trade and manufactures, and the wretchedness of the economic position generally, the miserable